Recent Transactions (Tables)
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3 Months Ended |
Mar. 31, 2020 |
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| Real Estate Properties [Line Items] |
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| Schedule Of Properties Which Commenced Initial Operations |
| | | | | | | | | | | | | | | Total | In Service | | | Property | # of | | | Development | Date | Property | Location | Type | Apartment Units | | | Costs Incurred | 03/01/20 | Emery at Overlook Ridge (a) | Malden, MA | Multi-Family | 101 | | $ | 29,755 | Totals | | | | 101 | | $ | 29,755 |
(a)The Emery at Overlook Ridge property consists of a total of 326 multi-family units. The remaining 225 multi-family units are currently in construction and are expected to be placed in service in mid- 2020.
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| Schedule Of Net Assets Recorded Upon Consolidation |
| | | | | Port Imperial North Retail L.L.C. | Land and leasehold interests | $ | 4,305 | Buildings and improvements and other assets, net | | 8,912 | In-place lease values (a) | | 1,503 | Above/Below market lease value, net (a) | | 313 | | | | Net assets recorded upon consolidation | $ | 15,033 | | | | (a) In-place and below market lease values are being amortized over a weighted-average term of 7.5 years. |
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| Schedule Of Real Estate Held For Sale/Discontinued Operations/Dispositions |
| | | | | | | | | | | | | Suburban | | | Other | | | | | | | Office | | | Assets | | | | | | | Portfolio (a) | | | Held for Sale | | | Total | Land | | $ | 145,151 | | $ | 85,472 | | $ | 230,623 | Building & Other | | | 1,217,867 | | | 47,571 | | | 1,265,438 | Less: Accumulated depreciation | | | (375,769) | | | (7,991) | | | (383,760) | Less: Cumulative unrealized losses on property held for sale | | | (169,992) | | | (44,140) | | | (214,132) | Real estate held for sale, net | | $ | 817,257 | | $ | 80,912 | | $ | 898,169 |
| | | | | | | | | | | | | Suburban | | | Other | | | | | | | Office | | | Assets | | | | Other assets and liabilities | | | Portfolio (a) | | | Held for Sale | | | Total | Unbilled rents receivable, net (b) | | $ | 29,402 | | $ | 2,043 | | $ | 31,445 | Deferred charges, net (b) | | | 33,176 | | | 1,316 | | | 34,492 | Total intangibles, net (b) | | | 32,724 | | | - | | | 32,724 | Total deferred charges & other assets, net | | | 68,691 | | | 1,326 | | | 70,017 | Mortgages & loans payable, net (b) | | | 123,679 | | | - | | | 123,679 | Total below market liability (b) | | | 8,235 | | | - | | | 8,235 | Accounts payable, accrued exp & other liability | | | 22,200 | | | 174 | | | 22,374 | Unearned rents/deferred rental income (b) | | | 4,849 | | | 203 | | | 5,052 | | | | | | | | | | | (a) Classified as discontinued operations at March 31, 2020 for all periods presented. See Note 7: Discontinued Operations. | (b) Expected to be removed with the completion of the sales. |
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| Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
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| Real Estate Properties [Line Items] |
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| Schedule Of Disposed Properties |
The Company disposed of the following office property during the three months ended March 31, 2020 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Discontinued | | | | | | | | | | | | | | | | | | | Operations: | | | | | | | | | | | | | | | | | Realized | | Realized | | | | | | | | | | | | | | | | | Gains | | Gains | | | | | | | Rentable | | | | Net | | | Net | | | (losses)/ | | (losses)/ | | Disposition | | | # of | | Square | | Property | | Sales | | | Carrying | | | Unrealized | | Unrealized | | Date | Property/Address | Location | Bldgs. | | Feet/Units | | Type | | Proceeds | | | Value | | | Losses, net | | Losses, net | | 03/17/20 | One Bridge Plaza | Fort Lee, New Jersey | 1 | | 200,000 | | Office | $ | 35,065 | | $ | 17,743 | | $ | - | $ | 17,322 | | | | | | | | | | | | | | | | | | | | | Sub-total | | | 1 | | 200,000 | | | | 35,065 | | | 17,743 | | | - | | 17,322 | | | | | | | | | | | | | | | | | | | | | Unrealized losses on real estate held for sale | | | | | | | | | | | | | (7,915) | | (45,068) | | Totals | | | 1 | | 200,000 | | | $ | 35,065 | | $ | 17,743 | | $ | (7,915) | $ | (27,746) | |
The Company disposed of the following developable land holdings during the three months ended March 31, 2020 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Realized | | | | | | | | | | | | | Gains | | | | | | | Net | | | Net | | | (losses)/ | Disposition | | | | | | Sales | | | Carrying | | | Unrealized | Date | Property Address | Location | | | | Proceeds | | | Value | | | Losses, net | 01/03/20 | 230 & 250 Half Mile Road | Middletown, New Jersey | | | $ | 7,018 | | $ | 2,969 | | $ | 4,049 | 03/27/20 | Capital Office Park land | Greenbelt, Maryland | | | | 8,974 | | | 8,210 | | | 764 | | | | | | | | | | | | | | Totals | | | | | $ | 15,992 | | $ | 11,179 | | $ | 4,813 | | | | | | | | | | | | | |
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| Mack-Cali Realty LP [Member] |
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| Real Estate Properties [Line Items] |
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| Schedule Of Properties Which Commenced Initial Operations |
| | | | | | | | | | | | | | | Total | In Service | | | Property | # of | | | Development | Date | Property | Location | Type | Apartment Units | | | Costs Incurred | 03/01/20 | Emery at Overlook Ridge (a) | Malden, MA | Multi-Family | 101 | | $ | 29,755 | Totals | | | | 101 | | $ | 29,755 |
(a)The Emery at Overlook Ridge property consists of a total of 326 multi-family units. The remaining 225 multi-family units are currently in construction and are expected to be placed in service in mid- 2020.
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| Schedule Of Net Assets Recorded Upon Consolidation |
| | | | | Port Imperial North Retail L.L.C. | Land and leasehold interests | $ | 4,305 | Buildings and improvements and other assets, net | | 8,912 | In-place lease values (a) | | 1,503 | Above/Below market lease value, net (a) | | 313 | | | | Net assets recorded upon consolidation | $ | 15,033 | | | | (a) In-place and below market lease values are being amortized over a weighted-average term of 7.5 years. |
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| Schedule Of Real Estate Held For Sale/Discontinued Operations/Dispositions |
| | | | | | | | | | | | | Suburban | | | Other | | | | | | | Office | | | Assets | | | | | | | Portfolio (a) | | | Held for Sale | | | Total | Land | | $ | 145,151 | | $ | 85,472 | | $ | 230,623 | Building & Other | | | 1,217,867 | | | 47,571 | | | 1,265,438 | Less: Accumulated depreciation | | | (375,769) | | | (7,991) | | | (383,760) | Less: Cumulative unrealized losses on property held for sale | | | (169,992) | | | (44,140) | | | (214,132) | Real estate held for sale, net | | $ | 817,257 | | $ | 80,912 | | $ | 898,169 |
| | | | | | | | | | | | | Suburban | | | Other | | | | | | | Office | | | Assets | | | | Other assets and liabilities | | | Portfolio (a) | | | Held for Sale | | | Total | Unbilled rents receivable, net (b) | | $ | 29,402 | | $ | 2,043 | | $ | 31,445 | Deferred charges, net (b) | | | 33,176 | | | 1,316 | | | 34,492 | Total intangibles, net (b) | | | 32,724 | | | - | | | 32,724 | Total deferred charges & other assets, net | | | 68,691 | | | 1,326 | | | 70,017 | Mortgages & loans payable, net (b) | | | 123,679 | | | - | | | 123,679 | Total below market liability (b) | | | 8,235 | | | - | | | 8,235 | Accounts payable, accrued exp & other liability | | | 22,200 | | | 174 | | | 22,374 | Unearned rents/deferred rental income (b) | | | 4,849 | | | 203 | | | 5,052 | | | | | | | | | | | (a) Classified as discontinued operations at March 31, 2020 for all periods presented. See Note 7: Discontinued Operations. | (b) Expected to be removed with the completion of the sales. |
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| Mack-Cali Realty LP [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
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| Real Estate Properties [Line Items] |
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| Schedule Of Disposed Properties |
The Company disposed of the following office property during the three months ended March 31, 2020 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Discontinued | | | | | | | | | | | | | | | | | | | Operations: | | | | | | | | | | | | | | | | | Realized | | Realized | | | | | | | | | | | | | | | | | Gains | | Gains | | | | | | | Rentable | | | | Net | | | Net | | | (losses)/ | | (losses)/ | | Disposition | | | # of | | Square | | Property | | Sales | | | Carrying | | | Unrealized | | Unrealized | | Date | Property/Address | Location | Bldgs. | | Feet/Units | | Type | | Proceeds | | | Value | | | Losses, net | | Losses, net | | 03/17/20 | One Bridge Plaza | Fort Lee, New Jersey | 1 | | 200,000 | | Office | $ | 35,065 | | $ | 17,743 | | $ | - | $ | 17,322 | | | | | | | | | | | | | | | | | | | | | Sub-total | | | 1 | | 200,000 | | | | 35,065 | | | 17,743 | | | - | | 17,322 | | | | | | | | | | | | | | | | | | | | | Unrealized losses on real estate held for sale | | | | | | | | | | | | | (7,915) | | (45,068) | | Totals | | | 1 | | 200,000 | | | $ | 35,065 | | $ | 17,743 | | $ | (7,915) | $ | (27,746) | |
The Company disposed of the following developable land holdings during the three months ended March 31, 2020 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Realized | | | | | | | | | | | | | Gains | | | | | | | Net | | | Net | | | (losses)/ | Disposition | | | | | | Sales | | | Carrying | | | Unrealized | Date | Property Address | Location | | | | Proceeds | | | Value | | | Losses, net | 01/03/20 | 230 & 250 Half Mile Road | Middletown, New Jersey | | | $ | 7,018 | | $ | 2,969 | | $ | 4,049 | 03/27/20 | Capital Office Park land | Greenbelt, Maryland | | | | 8,974 | | | 8,210 | | | 764 | | | | | | | | | | | | | | Totals | | | | | $ | 15,992 | | $ | 11,179 | | $ | 4,813 | | | | | | | | | | | | | |
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